Thomas received 50,000 php from his parents during his 33rd birthday. He invested his money in a scheme wherein he will receive 10 equal payments at the end of every year starting 30 years from now, with an interest rate of 3% compounded annually. How much is the regular pay-out Thomas will receive annually from this investment? A 10,500.00 php B 14,361.53 php 12,586.15 php 13,813.07 php
Thomas received 50,000 php from his parents during his 33rd birthday. He invested his money in a scheme wherein he will receive 10 equal payments at the end of every year starting 30 years from now, with an interest rate of 3% compounded annually. How much is the regular pay-out Thomas will receive annually from this investment? A 10,500.00 php B 14,361.53 php 12,586.15 php 13,813.07 php
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.59TI: New grandparents decide to invest 3200 per month in an annuity for their grandson, The account will...
Related questions
Question
hELP
Transcribed Image Text:Thomas received 50,000 php from his parents during his 33rd birthday. He invested his money
in a scheme wherein he will receive 10 equal payments at the end of every year starting
30 years from now, with an interest rate of 3% compounded annually. How much is the regular
pay-out Thomas will receive annually from this investment?
A 10,500.00 php
B
14,361.53 php
12,586.15 php
13,813.07 php
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps with 1 images
Recommended textbooks for you